US Skin Care Market (2018–2028)
With revenues from the global skin care market expected at $646.2 billion in 2024, starting a skin care brand can seem like an extremely lucrative entrepreneurial venture.
As an aspiring entrepreneur based in the United States, having a clearer picture of the local market can help you better determine business opportunities. All this starts with knowing how much the US skin care market is worth.
US skin care market in 2024
According to a recent analysis, the US skin care market is set to generate $24.4 billion in revenues in 2024—a 3.2% increase from the previous year. This represents a market share of 24.3%. In other words, nearly one-quarter of every dollar US consumers spend on beauty products in 2024 will be on skin care.
Skin care products will also be the second-largest revenue-generating products of the entire US beauty industry, after personal care, which has revenues forecasted at $45.5 billion, almost double the expected revenues of skin care items.
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Despite the expected annual increase this year, the US skin care market’s growth rate marks a slowdown from the previous years. In 2023, it grew by 5.5%, while 2022’s annual growth rate registered at 8.1%, the largest expected between the forecast period of 2018 to 2028.
By industry experts’ estimations, between 2018 and 2024, the sector is set to increase its annual revenues by $4.2 billion. This marks a 20.7% overall increase and an average annual growth rate of 3.2%.
US skin care market: 2025–2028 revenue forecast
Looking ahead, analysts expect the US skin care market to continue growing, albeit at a slower pace. Growth rates of 3% are expected in both 2025 and 2026, to bring overall revenues to $25.1 billion and $25.8 billion, respectively.
In 2027, the market is to grow a little faster, as it generates $26.7 billion in revenue. A 2.6% rise in sales is predicted in 2028, which will take revenues to $27.3 billion.
From 2025 to 2028, the US skin care market is forecast to see its revenues increase by a total of $2.3 billion. This is an overall increase of 9% and an average annual growth rate of 2.9%.